SG Market: Spore shares tipped to hold its ground in cautious trade after Wall Street's big intraday pullback last nite ahead of FOMC meeting & after STI's 50-pt run-up yesterday. Other than that, there is no real catalyst for the market with STI near 3200 psychological level with further resistance at 3220 recent peak. However, momentum indicators such as ADX, Stochastics & MACD are all exhibiting positive undertones for the market in the near term.
*OCBC results did not disappoint leading to some switching among bank stocks.
*Hi-P & Sino Grandness may trading interest after reporting sterling quarterly earnings.
*Cosco may also come into play after winning >US$87m of contracts for 3 dry bulkers
*Sound Global bagged a Rmb130m Jiangsu sewage project.
*China Environment is seeking dual primary listing on the main board of HKEX
*Genting Spore may continue to attract volume boosted by 50% surge in Oct casino revenue in Macau.
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